Given the deathly environment in the Oil Explorers sector at present, we thought it useful to look back at what we said about our picks during the summer to see if the circumstances that underpinned the ideas then still apply. Beneath each company below is the original text with our updates in bold. Gulfsands Petroleum…
I have long been a huge critic of the Bank of England, writing many posts about during the now long forgotten bubble suggesting that interest rates rises were warranted all the while watching King and his band of merry man continue to pump the bubble and then ultimately seemingly having no idea on how to…
After hovering between 250p & 280p for weeks the volume in BUMI this afternoon and in particular into the closing auction caught my eye – almost 1m shares uncrossed and the stock closed at 268p – just under the high of the day and above then then VWAP by quite a margin (one of the…
Muddy Waters Carson Block Muddy Waters, the infamous US short seller headed by Carson Block and which was instrumental in causing the bankruptcy of the $6 billion bogus Chinese forestry company Sinoforest, listed in Canada, in May this year, is at it again. Block alleged in June 2011 that Sinoforest was operating under a smoke…
2012 has been yet another tough for those who like to trade the FTSE. The blue chip index is up just 5% YTD and has lagged the US markets in particular that have produced double digit returns so far. Much to the chagrin of trend followers (and in particular the likes of Man Group with…
I’m not sure whether this post-mortem on the Falkland Oil and Gas share price collapse is more appropriate to CSI or the X-Files? Either way, for punters in FOGL and indeed other Falkland oilies, this year, it has been a rather painful experience to say the least..! It certainly looks like the mini mania associated…
An RNS just out this afternoon detailing a dramatically scaled back fund raising announcement for Ceres Power Holdings and, thankfully, a clean sweep of management has been welcomed by Ceres shareholders. The stock has nearly doubled in price as the “bust scenario” has been averted! The company is now planning to raise only £3.3m, before…
It seems that foreign investors and hedge fund managers in particular are buying into the 2013 China recovery story following our lead here. In recent months they have started rebuilding their Chinese equity portfolios. Historically low valuations and two years of market underperformance couple with renewed signs of economic growth are prompting the cheque books…
Cantor Opening Call The FTSE is called to open up around 25-30 points higher this morning UK Corporate Announcements Kingfisher reports a Q3 total retail profit of £257m, against forecasts of £259m seen, and states that it has delayed some capital spending to next financial year Pennon Group announces an H1 operating…
The latest Federal Reserve Beige book report on the U.S. economy was released yesterday with the New York area hit by Hurricane Sandy but growth in most other areas growing at a “measured pace” though weakness in manufacturing was highlighted as a concern. Seven of the 12 Fed regions reported weak factory activity and two more…
